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Tuesday, January 15, 2008

TOKYO (Thomson Financial) - Japan's Ministry of Finance said it has set a coupon of 0.9 percent on 2.0 trillion yen worth of five-year government bonds to be auctioned Wednesday, lower than the 1.1 percent coupon on the previous issue, which was auctioned last month.

The results of the auction will be announced at 12.45 pm (0345 GMT).

The bonds will be issued on Jan 25 and will mature on Dec 20, 2012, the ministry said.

At the auction of five-year bonds on Dec 11, the lowest accepted price was 100.03 yen, giving a yield of 1.093 percent and a bid-to-cover ratio of 2.857 to one.